Shelter Ins Retirement Plan lowered its position in 3M Co (NYSE:MMM) by 20.1% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 25,800 shares of the conglomerate’s stock after selling 6,500 shares during the period. 3M accounts for approximately 2.7% of Shelter Ins Retirement Plan’s portfolio, making the stock its 19th biggest holding. Shelter Ins Retirement Plan’s holdings in 3M were worth $6,073,000 at the end of the most recent quarter.
Other hedge funds have also recently made changes to their positions in the company. Hikari Power Ltd increased its stake in shares of 3M by 1.7% in the 4th quarter. Hikari Power Ltd now owns 114,580 shares of the conglomerate’s stock worth $26,969,000 after acquiring an additional 1,880 shares during the last quarter. CHURCHILL MANAGEMENT Corp increased its position in shares of 3M by 27.3% during the 4th quarter. CHURCHILL MANAGEMENT Corp now owns 8,158 shares of the conglomerate’s stock worth $1,920,000 after purchasing an additional 1,748 shares during the last quarter. Sawyer & Company Inc acquired a new stake in shares of 3M during the 4th quarter worth about $138,000. Rockland Trust Co. increased its position in shares of 3M by 24.3% during the 4th quarter. Rockland Trust Co. now owns 7,735 shares of the conglomerate’s stock worth $1,821,000 after purchasing an additional 1,510 shares during the last quarter. Finally, First National Bank Sioux Falls increased its position in shares of 3M by 53.4% during the 4th quarter. First National Bank Sioux Falls now owns 1,878 shares of the conglomerate’s stock worth $442,000 after purchasing an additional 654 shares during the last quarter. Institutional investors own 66.23% of the company’s stock.
Shares of 3M Co (NYSE MMM) traded down $2.20 during mid-day trading on Friday, reaching $245.91. The company had a trading volume of 2,233,500 shares, compared to its average volume of 2,086,167. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.07 and a quick ratio of 1.47. The firm has a market capitalization of $147,240.00, a price-to-earnings ratio of 27.45, a PEG ratio of 2.47 and a beta of 1.10. 3M Co has a 52-week low of $173.55 and a 52-week high of $249.00.
3M (NYSE:MMM) last issued its quarterly earnings data on Tuesday, October 24th. The conglomerate reported $2.33 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.21 by $0.12. 3M had a return on equity of 48.55% and a net margin of 17.71%. The business had revenue of $8.17 billion for the quarter, compared to the consensus estimate of $7.93 billion. During the same period in the prior year, the business earned $2.15 earnings per share. The business’s revenue was up 6.0% on a year-over-year basis. equities research analysts anticipate that 3M Co will post 9.1 earnings per share for the current year.
In other 3M news, insider Jon T. Lindekugel sold 400 shares of the company’s stock in a transaction dated Tuesday, October 31st. The stock was sold at an average price of $230.06, for a total transaction of $92,024.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Frank R. Jr. Little sold 1,500 shares of the company’s stock in a transaction dated Friday, October 27th. The stock was sold at an average price of $234.47, for a total value of $351,705.00. The disclosure for this sale can be found here. Insiders sold 22,804 shares of company stock worth $5,303,706 over the last 90 days. Company insiders own 0.58% of the company’s stock.
A number of analysts recently issued reports on MMM shares. Argus reissued a “buy” rating on shares of 3M in a research report on Friday, December 22nd. Bank of America lifted their target price on 3M from $227.00 to $257.00 and gave the company a “buy” rating in a research report on Wednesday, October 25th. Zacks Investment Research downgraded 3M from a “hold” rating to a “sell” rating in a research report on Tuesday, October 3rd. Credit Suisse Group reiterated an “outperform” rating and issued a $237.00 price objective (up previously from $229.00) on shares of 3M in a research note on Wednesday, October 11th. Finally, Goldman Sachs Group reiterated a “sell” rating on shares of 3M in a research note on Thursday, October 26th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and nine have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $235.01.
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3M Company Profile
3M Company is a technology company. It operates through five segments. The Industrial segment serves a range of markets, such as automotive original equipment manufacturer and automotive aftermarket, , appliance, paper and printing, packaging, food and beverage, and construction. The Safety and Graphics segment serves a range of markets for the safety, security and productivity of people, facilities and systems.
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